Match the Following Statements with the Best Match from the Following

question 133

Multiple Choice

Match the following statements with the best match from the following choices. Choice M may be used more than once.
-Service-providing partnership

• A)Includes the partner's share of partnership liabilities.
• B)Could result from sale of a partnership interest for more than the partner's share of the inside basis of assets.
• C)Liquidation payments from this type of partnership are always § 736b) payments.
• D)Could arise if a distribution results in loss to the distributee partner.
• E)May be a § 736a) payment.
• F)May receive § 736a) payments.
• G)Probably treated as a general partner for § 736 purposes
• H)Conversion of an LLC to a C corporation
• I)Liquidation payments from this type of partnership may include § 736a) payments.
• J)A § 736b) payment.
• K)Adjustment designed to bring inside and outside bases into balance.
• L)Partnership asset basis is at least $250,000 > FMV.
• M)No correct match is provided.

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Definitions:

Distress

Extreme anxiety, sorrow, or pain; a negative psychological state caused by external and internal stressors, affecting an individual's emotional well-being.

Breaking Confidentiality

Breaking confidentiality is the act of disclosing private or protected information without consent, violating ethical guidelines or agreements in professional settings.

Duty To Warn

A legal and ethical obligation for certain professionals to disclose information to prevent harm to a specific individual or the public when a client poses a threat.

Lethality

The degree or capability of something to cause death or serious harm.